Sunday, August 14, 2022

End of an Era: The 'Big Bull' Rakesh Jhunjhunwala passes away at 62

Veteran stock market investor Rakesh Jhunjhunwala has passed away at the age of 62 in Mumbai. Jhunjhunwala, over the years, invested in many well-known and established companies, and also in upcoming startups.

Often referred to as India's Warren Buffett, and the Big Bull of Indian markets, Jhunjhunwala's net worth was $5.8 billion, as of August 2022. He invested in his individual capacity, and via his firm Rare Enterprises.

Low-cost carrier Akasa Air, which is backed by Rakesh Jhunjhunwala, was inaugurated on August 7.

Jhunjhunwala was India's 36th richest person in 2021 and 438th richest man in the world, so far in 2022, according to Forbes.

His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors. Overall, he had stake in 47 companies at the end of June quarter.

He has holding in around 19 companies, including Tata Communications, Titan Company, Bilcare, Va Tech Wabagh, Federal Bank, Aptech.

He radiated positivity and cared deeply about everyone he knew. His advice was heartfelt and was ever eager to help. In short, a man with a heart to gold".

Home Minister Amit Shah tweeted, "Anguished to learn about the passing away of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti.

14/08/22 Business Standard

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